East Anglia and Liverpool freeports get £25m and final approval

The government has awarded two freeport economic zones £25m each as part of its final approval for the schemes.

Freeport East and Liverpool City Region Freeport are part of a series of UK freeports, offering tax and duty breaks to encourage business activity.

Felixstowe and Harwich ports and Gateway 14 business park off the A14, will work together as Freeport East.

Steve Gallant, leader of East Suffolk Council, said the decision was "a huge moment for the whole region".

Dehenna Davison, minister at the Department for Levelling Up, Housing and Communities (DLUHC), said: "Both of these freeports will now receive £25m of seed funding and potentially hundreds of millions in locally retained business rates to upgrade local infrastructure and stimulate regeneration.

"This is alongside a generous package of trade and innovation support for businesses locating there.

Freeport East will now receive up to £25m seed funding from the government over the next few years, the DLUHC said.

With eight other freeports planned across the UK, Mr Gallant said the East scheme's focus on the development of green energy was a significant selling point.

"I think the beauty of Freeport East is the beauty of the offer. What is really key is our ambitions around green energy," he said.

"Hydrogen is going to be a big thing and I want east Suffolk, East Anglia, to be a big part of that story around the economy going forward."

Some 13,500 jobs are forecast to be created at the port over its lifetime.

The Conservative council leader said the tax breaks offered would help facilitate new businesses and industries by giving them a "leg-up, in order to establish themselves in the market place".

"As a country, as a region, we need it desperately, in order to ensure that our future for our young people coming through the education system at the moment, they have the opportunities to secure not only employment but also useful, productive employment," he said.

Freeports in Teesside, Plymouth and South Devon and Solent Freeports have already received approval.

The DLUHC said three English freeports were expected to join these areas in receiving final approvals shortly.

Freeports for Scotland and Wales would also be announced soon with discussions ongoing for Northern Ireland.

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